The polymerase chain reaction (PCR) and real-time polymerase chain reaction (RT-PCR) testing refers to pivotal technologies in molecular biology and diagnostics, widely used to amplify and quantify DNA and RNA sequences. These technologies serve a broad spectrum of users, from research scientists in academia and the biotechnology sector to medical professionals in clinical diagnostics. PCR and RT-PCR are essential tools in genetic research, forensic science and medical diagnostics, especially notable for their role in pathogen detection, including their significant use in COVID-19 testing.
The PCR and realtime PCR testing market consists of sales, by entities (organizations, sole traders and partnerships), of PCR and RT-PCR testing services that offer detection of genetic material from a specific organism, such as a virus.
The global PCR and realtime PCR testing market was valued at $10,835.74 million in 2018 which declined till 2023 at a compound annual growth rate (CAGR) of more than -1.0%.
Surge In Healthcare Expenditure
During the historic period, the surge in healthcare expenditure supported the growth of the PCR and realtime PCR testing market. Increased healthcare expenditure enabled early diagnosis and treatment, improved patient management and enhanced public health outcomes, driving the demand for PCR and real-time PCR testing services. For instance, in May 2023, according to the Office for National Statistics, a UK-based government department, healthcare spending in the UK increased by 9.4% in nominal terms and 9.7% in real terms. UK total healthcare expenditure in 2021 was £280.7 billion ($367.25 billion) and pharmaceutical expenditure was £39.6 billion ($51.84 billion) in 2021. Furthermore, spending on preventive care was £35.1 billion ($45.93 billion) in 2021, more than doubling from the previous year. Therefore, the surge in healthcare expenditure drove the growth of the PCR and realtime PCR testing market.
Strategic Collaborations And Partnerships Among Market Players
Major companies in the PCR and realtime PCR testing market are focusing on collaborations and partnerships to strengthen their market position, enhance product offerings and expand their geographic reach. Through these partnerships, companies can take advantage of emerging technologies, integrate complementary skills and reach emerging markets. For instance, in April 2023, Thermo Fisher Scientific Inc., a US-based biotechnology company, entered into a strategic partnership with GeneProof a.s., a Czech Republic-based biotechnology company. The partnership allows Thermo Fisher to broaden its PCR test menu by leveraging GeneProof's portfolio of 37 CE-IVD molecular diagnostic assays, enhancing the range of diagnostic solutions available to customers. For instance, in May 2022, Cipla Limited, an India-based pharmaceutical company, entered into a strategic partnership with Genes2Me Pvt. Ltd., an India-based molecular diagnostic company. The partnership between Cipla and Genes2Me for the COVID-19 RT PCR test kit brings advanced technology, faster testing, increased efficiency, Indian Council of Medical Research (ICMR) validation and expanded diagnostics offerings, contributing to improved COVID-19 testing capabilities in India.
The global PCR and realtime PCR testing market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 20.17% of the total market in 2022.
PCR And Realtime PCR Testing Global Market Opportunities And Strategies To 2033 from The Business Research Company provides the strategists; marketers and senior management with the critical information they need to assess the global PCR and realtime PCR testing market as it emerges from the COVID-19 shut down.
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Where is the largest and fastest-growing market for PCR and realtime PCR testing? How does the market relate to the overall economy; demography and other similar markets? What forces will shape the market going forward? The PCR and realtime PCR testing market global report from The Business Research Company answers all these questions and many more.
The report covers market characteristics; size and growth; segmentation; regional and country breakdowns; competitive landscape; market shares; trends and strategies for this market. It traces the market's history and forecasts market growth by geography. It places the market within the context of the wider PCR and realtime PCR testing market; and compares it with other markets.
The report covers the following chapters
- Introduction and Market Characteristics- Brief introduction to the segmentations covered in the market, definitions and explanations about the segment by product, by application, by end user and by technology.
- Key Trends- Highlights the major trends shaping the global market. This section also highlights likely future developments in the market.
- Macro-Economic Scenario- The report provides an analysis of the impact of the COVID-19 pandemic, impact of the Russia-Ukraine war and impact of rising inflation on global and regional markets, providing strategic insights for businesses in the PCR and realtime PCR testing market.
- Global Market Size And Growth- Global historic (2018-2023) and forecast (2023-2028, 2033F) market values and drivers and restraints that support and control the growth of the market in the historic and forecast periods.
- Regional And Country Analysis- Historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison by region and country.
- Market Segmentation- Contains the market values (2018-2023) (2023-2028, 2033F) and analysis for each segment by product, by application, by end user and by technology in the market. Historic (2018-2023) and forecast (2023-2028) and (2028-2033) market values and growth and market share comparison by region market.
- Regional Market Size and Growth- Regional market size (2023), historic (2018-2023) and forecast (2023-2028, 2033F) market values and growth and market share comparison of countries within the region. This report includes information on all the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa and major countries within each region.
- Competitive Landscape- Details on the competitive landscape of the market, estimated market shares and company profiles of the leading players.
- Competitive Benchmarking- Briefs on the financials comparison between major players in the market.
- Competitive Dashboard- Briefs on competitive dashboard of major players.
- Key Mergers and Acquisitions- Information on recent mergers and acquisitions in the market is covered in the report. This section gives key financial details of mergers and acquisitions which have shaped the market in recent years.
- Market Opportunities And Strategies- Describes market opportunities and strategies based on findings of the research, with information on growth opportunities across countries, segments and strategies to be followed in those markets.
- Conclusions And Recommendations- This section includes recommendations for PCR and realtime PCR testing providers in terms of product/service offerings geographic expansion, marketing strategies and target groups.
- Appendix- This section includes details on the NAICS codes covered, abbreviations and currencies codes used in this report.
Markets Covered:
- 1) By Product: Consumables And Reagents; Instruments; Software
- 2) By Technology: Quantitative Polymerase Chain Reaction (qPCR); Digital Polymerase Chain Reaction (dPCR); End-Point (Standard PCR)
- 3) By Application: Clinical Diagnostics; Life Science Research; Industrial Applications; Other Applications
- 4) By End User: Academic And Research Institutes; Pharmaceutical And Biotechnology Companies; Clinical Diagnostics Labs And Hospitals; Other End-Users
- Companies Mentioned: F. Hoffmann-La Roche Ltd.; Danaher Corporation; General Electric Company; Becton Dickinson and Company; Eurofins Scientific SE
- Countries: China; Australia; India; Indonesia; Japan; South Korea; USA; Canada; Brazil; France; Germany; Italy; Spain; UK; Russia
- Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
- Time-series: Five years historic and ten years forecast.
- Data: Ratios of market size and growth to related markets; GDP proportions; expenditure per capita; PCR and realtime PCR testing indicators comparison.
- Data segmentations: country and regional historic and forecast data; market share of competitors; market segments.
- Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.